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Main » 2016 » March » 7 » At Brent has all chances to rise to $ 43 a barrel this week
At Brent has all chances to rise to $ 43 a barrel this week

Oil prices continued to rise early in the week. Brand Brent (May contract) is trading around the level of $ 39.2 per barrel, the price of WTI for April delivery rose to $ 36.5 per barrel. Thus, the quotations have overcome important technical levels, if you can even consolidate them, then "bulls" opens new perspectives



The price increase comes amid a reduction in the US rig. Such statistics Friday unveiled Baker Hughes.According to the latest report of the company, the total number of drilling rigs in the United States at the end of last week decreased by 13 units from 29 February to 4 March and amounted to 489 units. In annual terms, a decline of 703 units. The number of oil rigs fell by eight units to 392 units. The number of drilling for natural gas production fell by five units to 97 units.

Positive statistics in conjunction with new posts about the upcoming meeting of oil exporters to work their magic. Recently it became known that the countries ready to support the freezing of oil, Azerbaijan has joined.President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said that the country is not going to increase production this year.

During the day, prices are slightly adjusted, but this week in Brent still have a chance to rise to $ 43 per barrel.

A source

Analysis Alpari
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